MPay are into cuts in capital receipts spending, moratoria and retrenchments now, their business performance is terribly bad.
E-commerce does not benefit them, they had missed the eCommerce opportunity many years ago & decided to remain their focus on conventional payment. Foreseen a 10 Millions lost by end of 2020 if continue to have a 8 Million annual payroll.
Chew is a conman. Have attended 3 agms and not once explained the financial numbers and the state of company's finance. Each agm he gives a product technical presentation for 30 mins and agm is over. When people ask for a explanation of the p&l, chairman says all the info is in the annual report. Wat a bloody con show.
I come usually got Ong.Buying 200k shares worth 10 cents.TP 20 cents range.Based on chart pattern.U may never know it may aqquire future businesses to increase businesses.The current trend about buying penny stock.
Where did you see 6 Million cash flow? As Audited on March is only 1Million cash flow, guess how much is left now as dated on July?
Fix Deposited should not consider as cash, you need to down to earth to understand MPay business. Those are money they place into Trustees to operate their E-Money License & E-Payment business, simply it is untouchable money.
Account Receivable still have to deduct the cost, MPay earning is on micro margin may just as low as a few percentages to basis point.
For Bank & FI business you need to look at PNL, they need to have the capabilities to generate fresh money. Simply MPay business Model does not work, their reputation in the market is not good either, MPay is just considered as Tier 3 Players because their system can't cater for large volume Transaction, for Tier 2 Players (GHL, Revenue, Ipay88 etc).
MPay is just a Left Pocket in, Right Pocket out company control by the families.
The Board of Directors of the Company wishes to announce that ManagePay Services Sdn. Bhd. (“MPSB”), a wholly-owned subsidiary of MPay, had on 27 July 2020 entered into a Joint Venture and Shareholders’ Agreement (“Agreement”) with Passion Venture Capital Pte Ltd (“PVC”) to set up a JVC to apply for and/or procure a digital bank licence from Bank Negara Malaysia (“BNM”) and subsequent thereto, to operate a digital bank, in accordance with the terms and subject to the conditions in the Agreement for the purpose of furthering the Proposed JV.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
BuzzmeFund
46 posts
Posted by BuzzmeFund > 2020-04-29 15:40 | Report Abuse
Where is the 2020 Q1 report?